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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $127.10
- 6 Days on Market
- MLS # : 25092557
- Updated Date : 02/03/2021 at 14:19
CONSTRUCTION
- Beds : 4
- Floor Size : 2,085 sqft
- Baths : 2 full
Listing Agent
Discover Houston Realty
Listing Agent's Description
NO SHOWINGS UNTIL MONDAY 2/8/21. Welcome Home! This beautiful one story home sits on an oversize lot nestled in the highly desirable Riverstone Ranch subdivision. The pride of ownership shows in this meticulious maintained home and features 4 bedrooms, 2 bathrooms, tile flooring throughout the entire home, and an updated kichen. Every inch of this home has been touched with updates from the kitchen to the floors. The kitchen features a gas cooktop range, granite countertops, breakfast area, and serving/bar area. Formal dining room gives you pleanty of space to entertain and is open to the large family/living room. Split floorplan allows for privacy with the master bedoom nestled in the back of the home. The premium lot makes for a huge backyard where the possibilities are endless. Enjoy everthing Riverstone Ranch has to offer and enjoy the stunning lakes, clubhouse, pool, playground, and walking trails. Conventiently located to beltway 8, I-45, and hwy 288.
SEE MORE
- Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
- Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
- Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
- Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Riverstone Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Riverstone Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,000 |
| EXPENSES | Loan Payment | -$920 |
| Property Tax | -$664 | |
| Property Insurance | -$168 | |
| HOA | -$56 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$93
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$265,000
PROJECTED PRICE
$2,000
PROJECTED RENT
0.75%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 7.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$75,975
LOAN DETAILS
$920
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $66,250 |
| Loan Amount | $198,750 |
3.42
YEARS SAVED
$7,815
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,000
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$1,991
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
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9331 Stoneridge Canyon Lane Houston, TX 1
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- $1,800
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LEASED 10/31/20- Rent
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- $1,850
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-
2014 Hughes Ranch Road Pearland, TX 3
- 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2015
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,000
- $0.98
-
2015 Thunder Ridge Way Pearland, TX 5
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LEASED 12/01/20- Rent
- Rent Per SQFT
- $2,100
- $1.01
PROPERTY LISTING DETAILS
1.713.478.0021
Discover Houston Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 25092557
Last Updated: 02/03/2021
